The attached image shows the drop in Bitcoin dominance (BTC.D) to 63.98%โ with a break of critical support levels, as well as signs of timing (June/July) and selling indicators (โ).
๐ What does the drop in BTC.D mean?
โ The current decline (-0.29%) indicates liquidity exiting Bitcoin ๐ช โ towards strong altcoins like Ethereum (ETH) ๐น
โ Breaking the 38.6% support (in the image: the level 63.98% ๐) gives a strong bearish signal and reinforces the likelihood of continued decline!
๐จ Predictions for the upcoming phase:
1. Ethereum leading the market๐ช๏ธ:
- With the decline in Bitcoin dominance, we expect Ethereum and altcoins to rise against a potential stability or collapse of Bitcoin.
- ETH may lead the wave of decline in dominanceโ, opening the door for a recovery in altcoins.
2. The indicators in the image warn โ ๏ธ:
- The downward breakout of the 63.98% level (supported by high trading volume "RAP" in the image) indicates weak demand for Bitcoin.
- The next levels: If the decline continues below 63.50% (as shown in the image), the pace of the drop may accelerate!
๐ฏ Proposed strategy:
- Avoid Bitcoin in the short term โ: Due to weak acquisition indicators (as shown in the image: 65.50% โ 63.98%).
- Focus on Ethereum and altcoins โ : Preparing for a potential upward wave led by ETH.
- Monitoring levels 63.50% and 63.00% ๐: If broken, the downward trend in dominance will be confirmed!
โก Summary:
โ Dominance is collapsing.. and liquidity is shifting to Ethereum! ๐โก๏ธ๐น
โ Prepare for a new phase led by ETH and altcoins, with downward pressure on Bitcoin.
โ Key support: 63.50% โ if broken, we will witness an acceleration in the transition of leadership!
